Viessmann to invest 1 billion euros in climate solutions and heat pumps
Clean Energy Wire
Germany’s Viessmann Group, has said it plans to invest 1 billion euros in the next three years to expand its heat pump and green climate product portfolio and broaden its manufacturing footprint and R&D operations. “Unprecedented geopolitical developments need unprecedented replies,” said CEO Max Viessmann. “We all need more speed and pragmatism in order to fight climate change and to re-think energy generation and use of tomorrow, in order to strengthen Europe’s geopolitical independence.” The group has focused primarily on integrated climate solutions, such as its One Base platform, which comprises heat pumps with new natural refrigerants, district heating, solar thermal heating, home battery storages, biomass solutions, green gases and fuels, ventilation solutions and digital services. The company is using more synergies and expanding its business, particularly in food retail, indoor farming and health care applications. Viessmann has production facilities in 12 countries and 120 sales branches around the world, generated 3.4 billion euros in revenue last year, largely driven by strong demand for heat pumps and green and refrigeration solutions.
The electrification of the heating sector and wider use of heat pumps are seen as key elements in making Europe more energy independent and to ensure that countries meet their climat targets.